Robinhood posts record quarter despite crypto slowdown
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- Robinhood reported record quarterly revenue despite weaker cryptocurrency trading.
- Crypto revenue fell from the previous quarter as trading activity slowed.
- The company said growth in other business segments helped offset the decline.
Robinhood reported record quarterly revenue, even as cryptocurrency trading revenue declined from the previous quarter.
The company said lower crypto trading activity reduced digital asset revenue, but stronger options and equities trading lifted overall results.
Robinhood's total revenue reached a record level, driven by gains in trading, subscriptions and interest income.
Crypto remained an important part of the business, although it contributed less revenue than in the previous quarter.
The company continued expanding its digital asset offerings through new products and international growth initiatives.
Robinhood said its broader business helped cushion the impact of slower crypto trading as market activity eased.
